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USD/JPY Discussion

  • #15,861
  • May 26, 2010 3:18am May 26, 2010 3:18am
Quoting Usdjpy
I won't sell at that price. A better short position would be 91.10 level. Technically speaking, selling is not advised. To put a SL @ 12 pips away will definitely get hit. Maybe you want to change the SL to 91.20 ?
Thanks. I just want to understand why you think 91.10 is a better level to sell?As the pair is currently ranging between 90.6 and 88.5 thereabouts. A sell at 91.1 may not be triggered. Also why do you say that technically selling is not advised?
  • #15,862
  • May 26, 2010 3:34am May 26, 2010 3:34am
Quoting dexterific
What is your opinon on this? I have a limit order to sell USD/JPY pair at 90.50. That's the upper limit of the range this pair been trading since around 20th May. Stop loss at 90.62. T/P at lower ranging level at 89.50
It looks good, although I'm not too confident to be holding trades for such a broad spread. With the choppy PA of late I'm more into 'hit and run' scalps because I can't be sure which way, and for how far, any trade may run. Your theory is good though but I woud be keen to get the SL to BE as soon as practically feasable.

Just my opinion of course....good luck
Doing what you like is Freedom. Liking what you do is Happiness.
  • #15,863
  • May 26, 2010 3:42am May 26, 2010 3:42am
Quoting dexterific
Thanks. I just want to understand why you think 91.10 is a better level to sell?As the pair is currently ranging between 90.6 and 88.5 thereabouts. A sell at 91.1 may not be triggered. Also why do you say that technically selling is not advised?
It's my opinion. I prefer long than short. You may of course trade whatever direction and at whatever price you like. Happy trading!
  • #15,864
  • May 26, 2010 3:53am May 26, 2010 3:53am
i really have a bad experience to short this pair. eve if the price is a good price to sell i will not put any sell.
  • #15,865
  • May 26, 2010 3:54am May 26, 2010 3:54am
Quoting dexterific
Thanks. I just want to understand why you think 91.10 is a better level to sell?As the pair is currently ranging between 90.6 and 88.5 thereabouts. A sell at 91.1 may not be triggered. Also why do you say that technically selling is not advised?
Any daily chart will show that USDJPY is at the lower end of the trend. Would you sell at the lower end or buy at the higher end? Therefore technically selling (at the lower end) is not advised. Just my 2cents.
  • #15,866
  • May 26, 2010 4:17am May 26, 2010 4:17am
Dears
I hope this can help ,
Attached Image (click to enlarge)
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  • #15,867
  • May 26, 2010 4:27am May 26, 2010 4:27am
Today the London and European sessions dull too. Maybe I go watch a movie or something.
  • #15,868
  • May 26, 2010 4:31am May 26, 2010 4:31am
Quoting Usdjpy
Today the London and European sessions dull too. Maybe I go watch a movie or something.
I've enjoyed today so far....sitting at +60 pips so far. The PA is bouncing between DP and Monthly S2.......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #15,869
  • May 26, 2010 4:46am May 26, 2010 4:46am
Quoting realjumper
I've enjoyed today so far....sitting at +60 pips so far. The PA is bouncing between DP and Monthly S2.......
It's fun isn't it? Such a nice pair to trade. I have no position. Can afford to relax a little bit.
  • #15,870
  • May 26, 2010 4:52am May 26, 2010 4:52am
Quoting Usdjpy
It's fun isn't it? Such a nice pair to trade. I have no position. Can afford to relax a little bit.
Yep, this pair has been very good to me over recent weeks.....especially when the eur/usd pair was messing about.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #15,871
  • May 26, 2010 5:58am May 26, 2010 5:58am
88.xx had yet to be tested. I'm buying heavily @ 88.20 if that price really comes. Since 91.00 is intact, the bearish trend should continue.
  • #15,872
  • May 26, 2010 6:52am May 26, 2010 6:52am
today is giving sleep, no news, no adrenaline, ..

also like to see this retest 89.20
  • #15,873
  • May 26, 2010 7:15am May 26, 2010 7:15am
@mary: you really can take advantage from the bounce. ha3 great for you.
now the USD/JPY is allready at 90.40 and if this is just the same like yesterday PA then down to 89.xx is the next. i can not see any reason for this pair breaking to 92 or 91 level for today or rommorow. there is still no sign for this pair jumping right now.
  • #15,874
  • May 26, 2010 7:22am May 26, 2010 7:22am
http://www.investica.co.uk/comment.htm
  • #15,875
  • May 26, 2010 7:32am May 26, 2010 7:32am
Core Durable Goods Orders 8.30 am. This should move the market a bit.
  • #15,876
  • May 26, 2010 8:39am May 26, 2010 8:39am
New Home Sales 10 am. This should move the market a bit too. Pretty quiet today. No signs of upswing nor dive.
  • #15,877
  • May 26, 2010 8:59am May 26, 2010 8:59am
Quoting Usdjpy
New Home Sales 10 am. This should move the market a bit too. Pretty quiet today. No signs of upswing nor dive.

but move on what side? short or long?
  • #15,878
  • May 26, 2010 9:22am May 26, 2010 9:22am
Quoting Usdjpy
New Home Sales 10 am. This should move the market a bit too. Pretty quiet today. No signs of upswing nor dive.

but move on what side? short or long?
  • #15,879
  • May 26, 2010 9:51am May 26, 2010 9:51am
Quoting kaspichus
but move on what side? short or long?
You may wanna check on the calendar page under the detail folder to see how the market will react to certain news.
  • #15,880
  • May 26, 2010 9:58am May 26, 2010 9:58am
The market is still lateral since the Big BreakOut: http://www.forexfactory.com/showthre...77#post3735677

I hate lateral markets, no significants BOs...
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